EUR & CHF Weekly Forecast – Another Wave of Restrictions?

Market sentiment has pushed these European currencies around recently, but the focus could shift back to the virus and lockdown measures.

Check out the potential catalysts you should watch out for if you’re trading the euro this week.

Closely watched economic releases

Lower-tier releases don’t usually see sustained moves, but they can cause volatility that could present intraday trading opportunities
Final CPI readings (Nov. 18, 11:00 am GMT) to show no revisions to -0.3% headline figure and 0.2% core figure
Eurozone current account balance (Nov. 19, 10:00 am GMT) to show wider surplus compared to previous 19.9 billion EUR reading
Consumer confidence index (Nov. 20, 4:00 pm GMT) to slip from -16 to -18 this month, reflecting increased pessimism

Coronavirus cases in large eurozone nations and the prospect of stricter or prolonged lockdowns will weigh on the region’s economic recovery trends
Note that Germany has been reporting record increases in the number of confirmed cases lately, likely resulting to weakening euro demand
Speeches from European Central Bank (ECB) President Lagarde will likely hint at further easing in December. Emphasis on downside risks could limit EUR’s gains
EU and U.K. reps will continue Brexit talks this week, with some officials hinting at a bit of progress in key trade issues

Swiss trade balance (Nov. 19, 8:00 am GMT) to show a larger surplus from earlier 3.28 billion CHF figure
Overall market sentiment could also push CHF pairs in a particular direction, especially if traders continue to be wary of the U.S. dollar and the euro

Moving averages are putting most euro pairs in bullish territory, with the exception of EUR/NZD and EUR/AUD
EUR/GBP is looking bullish but is showing a weakening trend